Cosmos-based DEX Osmosis raises $21M in from a consortium of investors
Osmosis joins investment firm Paradigm’s other DeFi portfolio members such as Maker, Synthetic, Uniswap, Optimism, FTX, Coinbase, and BlockFi. Osmosis, a decentralized exchange, or DEX, on the Cosmos blockchain, raised $21 million dollars in a token sale led by VC fund Paradigm along with a consortium of investors including Robot Ventures, Nascent, Ethereal, and Figment.Osmosis allows developers to build customized Automated Market Makers, or AMMs, with sovereign liquidity pools. The DEX uses a native token called OSMO for governance and staking, and currently contains a total of $544....
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Most active DeFi participants have probably heard about Osmosis by now. The Cosmos Hub-based AMM platform has skyrocketed to over $500 million in Total Value Locked and built a global community of passionate supporters. Now, Osmosis is advancing to its next milestone by partnering with e-Money, a popular blockchain-based payment platform, to introduce eEUR as […]
Attackers have exploited a bug in the Osmosis exchange to the tune of $5M as FireStake validators admit to their role in racking up roughly $2M before stepping forward. Osmosis, a decentralized exchange (DEX) built on the Cosmos network, was halted just before 3:00 am EST on Wednesday after attackers exploited a liquidity provider (LP) bug to the tune of roughly $5 million.The bug was first identified in a Reddit post on the official Cosmos Network page. The user, Straight-Hat3855, brought attention to a “serious problem” with Osmosis (OSMO) that allowed users to arbitrarily grow LPs by....
Aggregate trading volumes and TVL in the Cosmos ecosystem are lifting the same metrics at Osmosis DEX, resulting in OSMO price hitting new all-time highs. Crypto assets within the Cosmos ecosystem have been on a run since the start of 2022, thanks to an intensified focus on brokering cross-chain compatibility with other blockchains. One decentralized finance (DeFi) protocol that has benefited from the current expansion plans is Osmosis (OSMO). Osmosis is the first decentralized exchange (DEX) servicing projects connected through the Interblockchain Communication Protocol (IBC) and data....
Sunny Aggarwal has vivid memories of some of the worst days of his life earlier this year. The blockchain co-founder and his Osmosis protocol were hit hard by the TerraLUNA collapse and are still recovering from its fallout today.The Terra crash hit us incredibly hard because we were one of the biggest DEXs for providing liquidity to TerraUSD and Luna Classic, he explains, At one point, it made up over 50% of our liquidity. I always tell people that the Terra Luna protocol was created by someone with either an IQ of 50 or 150. And frankly, I cant tell which one.Aggarwal is a co-founder and....
The Inter Blockchain Communication protocol that powers Cosmos has been growing steadily over the past 6 months. The Cosmos cross-chain network has been growing steadily along with the projects that run on top of it and it’s just reached a milestone in terms of activity.The Inter Blockchain Communication protocol (IBC), which is the backbone of the Cosmos ecosystem, has seen a surge in activity over the past month with more thanone million transfers logged.Cosmos launched the IBC in March to enable cross-chain decentralized finance and interoperable nonfungible token transfers. Over the....